Change in the valuation method for products from the specific identification method to the moving average method
First written in FY2023-Q1. 1 of 2 entries say "Restated". Latest entry: FY2023-Q2.
19 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「For inventory valuation, the company had used the cost method based on the specific identification method, but changed to the cost method based on the moving average method from the first quarter of the current consolidated fiscal year. The purpose of this change was to improve profit management through faster ascertainment of inventory values in the life sciences and equipment development business and to calculate appropriate period income in light of rising raw material costs.」
The company reaffirmed its policy of changing the merchandise valuation method from the specific identification method to the moving average method, explaining that the purpose was to ascertain inventory values more quickly, refine profit management and calculate period income appropriately in light of rising raw material costs. - FY2023-Q1First statedAnnual report
「For inventory valuation, the company had used the cost method based on the specific identification method, but changed to the cost method based on the moving average method from the first quarter of the current consolidated fiscal year.」
The company changed its inventory valuation method for merchandise from the specific identification method to the moving average method. The purpose was to improve profit management through faster ascertainment of inventory values and to calculate appropriate period income in light of rising raw material costs; the company states that the impact was immaterial.